According to an April 23 report from Farm Progress, Kevin Atticks, secretary of agriculture, says the current goal is to open a 35-foot-deep channel in the Port of Baltimore by the end of the month.
Data from Statistics Canada on Canada’s agricultural implement manufacturing industry (NAICS 33311) reveals that 77.5% of all Canadian ag implement manufacturing exports went to the U.S. in 2021.
On June 8, Bloomberg reported sales of all products to Russia from its normal trading partners — which accounted for one-half of all imports in 2021 — were down 40% in April.
U.S. agricultural exports in fiscal year 2021 are expected to increase to $152 billion, up 12% from the previous year, and nearing the record set in 2014.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.